Regulatory Alerts2024-09-25 | FIL-67-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Connecticut Affected by a Severe Storm, Flooding, Landslides, and Mudslides
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist Connecticut financial institutions and borrowers affected by a severe storm, flooding, landslides, and mudslides. Banks are encouraged to extend repayment terms, restructure loans, and monitor municipal investments without examiner criticism, while qualifying for favorable Community Reinvestment Act consideration. The FDIC will also grant flexibility regarding delayed financial reporting, branch publishing requirements, consumer rescission periods, and expedited approvals for temporary banking facilities.
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